We're not even a week into the Madoff Movie of the Week and it seems as though the victims, and their truly saddening sob stories, will not stop piling up. Old people in Palm Beach who've lost everything. Charities that are being forced to close up shop. The fate of Arki Busson's perma-grin, hanging in the balance. And yet. There are also some unintended consequences that we must stop and give thanks for. For instance, earlier today, a CNBC reporter stood outside a courthouse waiting for Bernie Madoff, and when the accused emerged, followed him to his car and shouted, "Why did you do it? Why did you confess? Anything to say to your victims? Did your wife have anything to do with this?" as though he were on Hard Copy. The network ran it over and over, not because any footage of Madoff equals ratings but because it was downright hilarious. Also comical? Recent action taken by Yeshiva University.
As we mentioned earlier, the Jew-y institution of higher learning was affected by the fact that they were putting money (by way of Ascot Partners) into a Ponzi scheme. They penned a letter to the YU community yesterday to discuss the matter, and noted that while the school's financial position is still "strong," make no mistake: "Bernard Madoff is no longer associated with our institution in any way." Harsh words, but President Richard Joel was upset and entitled to his feelings. But it did not stop there!
Quite gloriously, we've been informed by Remy Stern that Yeshiva staffed some intern-- or maybe Joel did it himself, which would be excellent-- with going back and removing all pictures of Madoff from their photo galleries from various events over the years. Of course, you can do a Google image search for him and find thumbnails leading back to the Yeshiva site but upon click through, nada. He is truly dead to them.
If there are any former investors reading this, who perhaps maybe spent the weekend letting out your inner 8 year old/psycho ex-girlfriend by cutting Bernie's face out of all pictures of the Del Boca Vista gang in better days, please, I implore you-- let us know.